LAFAYETTE, Ind. (WLFI) - Heading into 2013 experts predicted to see more than a 2% growth to the economy.
"Now that we're in the second half of 2013 we're not seeing that spurt in growth, 2013 is turning into another year of disappointing growth I would say," Purdue management professor Charlene Sullivan said.
Sullivan said the country has been in a recovery since 2009 and hasn't made it back to rates of growth like years past.
"Low confidence, a high level of political uncertainty," Sullivan said. "Those are characteristics that are weighing on the decisions that both consumers and businesses are making."
In Indiana one market is seeing growth.
"We've put our grain industry back to work after the horrible drought of 2012 and this year because we have so much better crop in the U.S. and here in Indiana we're going to be able to supply our domestic consumers and our international consumers," Purdue agricultural economist Chris Hurt said.
Hurt said using Indiana crops like corn and soybeans for fuel is one reason for the boom in the economy.
"That big demand increase causes the prices to go up for agricultural commodities, second is huge buying from China in terms of soybeans," Hurt said.
Looking to the future, Hurt said he expects growth to slow down a little bit as the supply of Indiana crops, meet the demand.
"We're obviously seeing some moderation in terms of overall incomes in the agricultural sector," Hurt said. "It's been very good incomes, record incomes, but we're at a period of seeing some moderation."
For the general economy, Sullivan said she advises consumers to carefully spend their money and plan ahead for future expenses.
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